Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements Of Consolidated Operations

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Condensed Statements Of Consolidated Operations (USD $)
In Thousands, except Per Share data, unless otherwise specified
 3 Months Ended
Mar. 31, 2012
Mar. 31, 2011
Revenues:    
Oil and gas sales $ 45,286 $ 46,772
Operating costs and expenses:    
Production expense 5,526 5,233
Exploration expense 853 1,119
Depreciation, depletion and amortization 5,003 6,098
General and administrative expense 3,483 2,980
Bad debt expenses 315  
Total operating costs and expenses 15,180 15,430
Operating income 30,106 31,342
Other income (expense):    
Interest income 41 36
Other, net 200 (194)
Total other income (expense) 241 (158)
Income before income taxes 30,347 31,184
Income tax expense 19,820 18,288
Net income 10,527 12,896
Less net income attributable to noncontrolling interest (1,509) (1,657)
Net income attributable to VAALCO Energy, Inc. $ 9,018 $ 11,239
Basic net income per share attributable to VAALCO Energy, Inc. common shareholders $ 0.16 $ 0.20
Diluted net income per share attributable to VAALCO Energy, Inc. common shareholders $ 0.15 $ 0.19
Basic weighted average shares outstanding 57,195 56,971
Diluted weighted average shares outstanding 58,308 58,258